Case Study

Question 1

Is the property listsed?

Answer 1

The property is a grade II listed building.

Question 2

What can you tell me about listed buildings?

Answer 2

• Not liable for empty business rates.
• Need planning for marketing baords.
• Do not require an EPC.

Question 3

What planning consent does the unit have?

Answer 3

The unit was Class A3 (the sale of food or drink for consumption on the premises or of hot food for consumption off the premises) now E(b) Sale of food and drink for consumption (mostly) on the premises.

Question 4

What type of agency was your instruction?

Answer 4

Sole agency

Question 5

Can you explain the different types of agency?

Answer 5

Sole agency - Only one agent

Joint agency - Two or more agents sharing a fee on a prr agreed basis.

Multiple agency - Any number of agents but only the suceessful agent gets the free.

Question 6

Did you undertake an AML check?

Answer 6

No, as we recently acquired the block for our client a month prior to instructuon, we already had their AML checks on file.

Question 7

How do you undertake an AML check?

Answer 7

Customer Due Dilligance (CDD) - I request passports and utility bills (within last 3 months) from the beneficcial owners and company directors to confrim their ideniy and source of funds.

Enhanced Due Dilligance (EDD) ¬– additional procedures required if they are a politically exposed person (PEP) as there is a higher risk for bribary and corruption.